Who doesn't want to be a millionaire? What to do ? What should be done to make it easier to become a millionaire? Can I also become a millionaire? This is a question that always comes in the mind of all of us but there is no answer to it.
Answer given by people
How to become a millionaire? You will get many answers. You are looking for the answer to this question. You will meet many experts. You will have the answer as soon as you play a pinch. Do SIP and you will become a millionaire. Deposit 25000 rupees a month, you will become a millionaire. Someone will say that the age is too much, deposit 50000 rupees a month, you will become a millionaire.
Hey man, there is a desire to earn and eat here and people will find you advising to do SIP of 25000 or 50000 months. 25000 or 50000 will be deposited only which will be financially sound. There will be neither nine hearts of oil nor Radhe will dance.
SIP has to be done
I am writing this post for those people who come from economically middle or lower class. who are making their living in some way. Those who do not even have an income of 25000 or 50000 rupees per month. What do they do? So now I'm going to tell.
SIP has to be done. If you want to achieve financial independence, then you have to do SIP. Make up your mind to do SIP. But wait, think one thing before starting SIP.
Do you want to see your child also poor for the rest of his life?
That's the only thing you have to think about. Whatever your age, you are living in poverty. If it is also visible that your poverty is not going to go away, then should your child also live in the same condition in which you are living for the rest of his life? No no If you do not want this, then now you can think about SIP. First let us know what is SIP?
What is SIP?
SIP is an investment made in mutual funds. This is called Systematic Investment Plan. Regular investment is made in this plan. This investment is conducted by the fund house. This investment is completely safe and secure. This investment is subject to market volatility. So there is risk in it. SIP can be started with a minimum of Rs 500 per month. This investment has the facility of extra purchasing. You can exit SIP anytime. Fund houses charge some charges on exit within a year. There is no charge after one year.
Here is the information about SIP. Now the question arises that with how much money to start SIP?
How much to start SIP?
I have already told that I am writing this post for those people whose income is less. So low-income people have to keep in mind that your children do not suffer from poverty, for this you have to invest. Now pay attention, whatever you are earning. You have to save 100 rupees everyday in a disciplined manner. Accordingly, you saved 3000 rupees for the month. Invest this money in good equity mutual funds. What would happen if you put Rs 3000 every month in SIP for 25 years in your life? understands.
As per SIP calculator
Remember, if you do SIP for a long time, you never lose. The advantage of doing SIP for a long time is that you can get compounding interest of up to 25%. Even if the luck is bad, you will get an interest of 12%. Now understand what will happen according to the SIP calculator? Your investment value in 25 years will be Rs 900000. At the rate of 25% in 25 years, your Est.return will be Rs.70364825. That is, 7 crore 3 lakh 64 thousand 8 hundred 25 rupees are being received in 9 lakh investment.
No need to be happy now. What if you got a return of 20% somewhere? Let's see Your investment amount is Rs 9 lakh, 20% return according to SIP calculator is Rs 2 crore 49 lakh 80 thousand 124.
Somewhere you get a return of 15%, then your return will be 98 lakh 52 thousand 221 rupees.
If you get the lowest return at the rate of 12%, let's also see how much money it is worth. 9 lakh investment value 12% 25 years time as per SIP calculator. Money is 56 lakh 37 thousand rupees. So friends, what happened if you got the maximum return, you got 7 crores. If you got less return than that, you would have got 2 crores. If I got less than that, I got 98 lakhs. If you got the lowest return then you got 56 lakhs. But I want your child to be a millionaire. So for this you have to do more. understand what to do.
attempt to increase income
You have to try to increase your income. If your income increases then 3000 rupees monthly investment will continue. In between, you have to do additional purchasing of whatever extra money you have, sometimes of 2000 rupees, sometimes 5000 rupees, sometimes 1000 rupees. anything, anytime. When you do additional purchasing, the growth of your money will increase even more. more than you can imagine.
invest your child
I understand that you do SIP for 25 years. Perhaps after that you would have turned 60 years old. You must have retired. But your child must have been above 18 years of age. Or if he too would have turned 22 or 25 years old, he too would have got a job somewhere. He must also be earning something. You are giving him a minimum of 56 lakhs. But teach him to invest too. Now it's his turn. If he adds Rs 3000 per month to that 56 lakh investment even for 25 years, then I am unable to tell the figure that how many crores he will become the owner. If he invests for 30 years or 40 years, then it will be pleasant in gold.
thing to remember
Remember that no man becomes a millionaire overnight. Time has to be given for this. Anyway, if you do not do anything, then time will pass. You will be old, your child will also be old. You too will die poor, your child will also die poor. The matter is bitter, but it is true. So why not do this small work to remove poverty from your child's life. Just make regular investments in a disciplined manner. If not 3000 then do 2000 rupees a month only. If any extra money comes to you in between, then do additional purchasing. Inculcate the habit of investing in your child. Maybe your child will be the owner of 10 crores.
I am not dreaming. You may find my point to be a figment of my imagination. But I am saying once again, it is better to do something than to do nothing. Your poverty will go away. Your child will bless you.
(This post has been written for informational purposes only. You should invest after consulting your financial advisor.)
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